Key Points
- CEO Isaias Jose Calisto sold 31,897 Karooooo shares at an average price of $64.43, generating approximately $2.06 million. He retained 17.84 million shares, and also reported three additional sales totaling about $4.24 million from July 27–30.
- Karooooo reported quarterly EPS of $0.59, beating the $0.51 consensus estimate, on revenue of $96.26 million. The company also increased its annual dividend to $1.50 from $1.25.
- Shares opened at $64.24, near their 52-week high of $66.23. Analysts maintain a consensus “Buy” rating with an average price target of $73.50.
Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 18,630 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $63.47, for a total transaction of $1,182,446.10. Following the transaction, the chief executive officer directly owned 17,819,482 shares of the company's stock, valued at $1,131,002,522.54. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Isaias Jose Calisto also recently made the following trade(s):
- On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The shares were sold at an average price of $64.43, for a total transaction of $2,055,123.71.
- On Tuesday, July 28th, Isaias Jose Calisto sold 22,036 shares of Karooooo stock. The stock was sold at an average price of $64.19, for a total transaction of $1,414,490.84.
- On Monday, July 27th, Isaias Jose Calisto sold 25,913 shares of Karooooo stock. The stock was sold at an average price of $63.44, for a total transaction of $1,643,920.72.
Karooooo Stock Performance
Shares of KARO opened at $64.24 on Friday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 32.61 and a beta of 0.89. Karooooo Ltd. has a 12 month low of $41.25 and a 12 month high of $66.23. The firm has a fifty day simple moving average of $53.44 and a 200 day simple moving average of $50.07. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15.
Karooooo (NASDAQ:KARO - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The firm had revenue of $96.26 million for the quarter. Research analysts forecast that Karooooo Ltd. will post 2.41 EPS for the current fiscal year.
Karooooo Increases Dividend
The business also recently disclosed an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were issued a $1.50 dividend. This represents a dividend yield of 239.0%. The ex-dividend date was Friday, July 17th. This is a positive change from Karooooo's previous annual dividend of $1.25. Karooooo's dividend payout ratio is 76.14%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on KARO. Roth Capital reaffirmed a "buy" rating and issued a $74.00 target price on shares of Karooooo in a research report on Friday, July 17th. Wall Street Zen raised Karooooo from a "hold" rating to a "buy" rating in a research report on Saturday. Zacks Research upgraded Karooooo from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. UBS Group reaffirmed a "buy" rating and set a $75.00 price target on shares of Karooooo in a research report on Thursday, July 16th. Finally, Freedom Capital lowered Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $73.50.
Read Our Latest Analysis on Karooooo
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Capricorn Fund Managers Ltd raised its holdings in shares of Karooooo by 39.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company's stock valued at $10,833,000 after purchasing an additional 67,322 shares during the period. Tudor Investment Corp ET AL lifted its stake in Karooooo by 238.3% in the 3rd quarter. Tudor Investment Corp ET AL now owns 17,917 shares of the company's stock valued at $1,023,000 after purchasing an additional 12,621 shares during the last quarter. Aurora Investment Counsel acquired a new stake in Karooooo in the 4th quarter valued at about $1,651,000. Bullseye Asset Management LLC grew its holdings in Karooooo by 101.7% during the fourth quarter. Bullseye Asset Management LLC now owns 32,129 shares of the company's stock worth $1,461,000 after purchasing an additional 16,200 shares during the period. Finally, Schwartz Investment Counsel Inc. grew its holdings in Karooooo by 22.9% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company's stock worth $3,566,000 after purchasing an additional 14,600 shares during the period.
About Karooooo
(
Get Free Report)
Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.
Karooooo's SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.
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